Guohong Hydrogen Energy (09663) announced interim results. Shareholders' losses of 212 million yuan increased 70.77% year-on-year

According to the Zhitong Finance App, Guohong Hydrogen Energy (09663) announced results for the six months ended June 30, 2024. The group achieved revenue of 133 million yuan (RMB, same below) during the period, a year-on-year decrease of 37.34%; losses due to company owners amounted to 212 million yuan, an increase of 70.77% over the previous year; and a basic loss of 0.41 yuan per share.

According to the announcement, the decline in revenue was mainly due to the fact that the hydrogen fuel cell industry where the Group is located is still in the early stages of commercialization, and there is some fluctuation in business performance; and in the first half of the year, the company's new products were in the mass production introduction stage, production capacity release required transition time, and sales of hydrogen fuel cell systems declined.